With RDAs Axed, Time to Unload Debt Property

Two and a half months ago, they lost their battle against the state to keep redevelopment agencies alive. Now, in a complicated, untested process that’s likely to take years, local government officials are members of a select group serving on new boards charged with overseeing the agencies’ demise.

Kosmont Realty Represents Owner in Sale of LA Forum

The Madison Square Garden Company , City of Inglewood and Faithful Central Bible Church announced today that The Madison Square Garden Company has acquired the celebrated Forum in Inglewood, Calif. for a purchase price of $23.5 million. The acquisition will be followed by a comprehensive renovation of the historic venue, which is scheduled to begin later this year.

Kosmont Companies Selected to Advise on Dissolution of Redevelopment Agencies

Kosmont Companies was recently selected by the State of California’s Department of Finance to provide interim Redevelopment Dissolution Consulting Services to six of the seven “Designated Local Authorities” (DLAs) across the State. The Designated Local Authority is an entity comprised of appointees by the Governor to wind down the affairs of redevelopment agencies in those cities that did not elect to become a Successor Agency.